Building blocks: A listing of blockchain, distributed ledger technology companies in India

For some, blockchain is a fad as a technology that will eventually pass. For others, it is a deep technology that is here to stay — one that will eventually be as epochal as the internet. Even though the technology is still in a nascent stage, development talent is scarce, and many of the solutions are still in the proof-of-concept (POC) stage, companies and governments are very bullish about it.

Countries like Estonia have already deployed blockchain for governance in sectors such as healthcare. Even in India, the NITI Aayog is said to be in the process of putting many governance projects on to its blockchain solutions which will be called IndiaChain.

The boom in demand for blockchain solutions have given rise to more than a handful of companies in India that are providing blockchain-based products like identity management and cross border remittance or even developing custom solutions for enterprises.

We have compiled a list of such companies from across India working in the blockchain space. This is not a comprehensive list of blockchain companies in India. We have excluded some of the big IT service companies that are also offering blockchain solutions to its clients and are focused on smaller and newer companies in comparison. To suggest a blockchain company that deserves to be in this roundup or to update information on any of the startups featured here, please fill in this form.

Founders: A Aravind Bharathi, Cibilan JamesFounding year: 2014Location: BengaluruWhat they do: Akasa Labs is a blockchain service company providing solutions for the supply chain management space. Its product incorporates features like smart contracts to execute trade and also provides IoT-based tracking and management of consignments.

Founder: Ajay JadhavFounding year: 2015Location: PuneWhat they do: AyanWorks is a technology service company also providing blockchain-based solutions for companies. Its solutions include copyright and royalty distribution for the media industry, payment solution using platforms like NPCI UPI platform with Bitcoin and Ethereum as a cryptocurrency, and document authentication and verification platform.

Founders: Pria Randolph, Rohit ChaturvediFounding year: 2017Location: BengaluruWhat they do: Bitgram is working on blockchain-based data sovereignty and consumer data protection platform. One of the products they are developing helps with real-time loan tracking to prevent NPAs and fraud.

Founder: Shiva SitamrajuFounding year: 2014Location: HyderabadWhat they do: Blockonomics has developed a blockchain-based peer-to-peer encrypted invoicing system which will allow users to invoice anonymously and accept payments in Bitcoins directly to the wallet.

Founder: Nitin ShuklaFounding year: 2016Location: New DelhiWhat they do: Chainframe builds solutions using blockchain distributed apps and hybrid systems. One of their products called Aana is a customisable private network aimed at the enterprise space.

Founders: Sahil Baghla, Nikunj JainFounding year: 2016Location: GurugramWhat they do: Darwin Labs is a technology solutions service company developing apps and other solutions based on technologies including blockchain.

Founder: V SrinivasanFounding year: 2008Location: BengaluruWhat they do: eMudhra is a licensed Certifying Authority (CA) of India and provides digital signature certificates. The company is also working on developing blockchain-based solutions for use cases like digital identity and authentication.

Founders: Vishal Anand Kanvaty, Abhijeet JaswalFounding year: 2016Location: BengaluruWhat they do: EzyRemit has developed a cross-border remittance platform based on blockchain technology. The company also has also developed an intra-company funds settlement platform.

Founder: Deepak RaoFounding year: 2017Location: PuneWhat they do: PivotChain is a technology solutions services company working on technologies including blockchain, cryptography and distributed computing.

Founders: Shinam Arora, Rohas NagpalFounding year: 2016Location: PuneWhat they do: Primechain is a blockchain solutions company focusing on developing products for the banking, governance, insurance, and manufacturing sectors, among others. It is also part of the BankChain consortium for developing blockchain-based solutions for the banking industry.

Founders: Toshendra Sharma and Rohendra SinghFounding year: 2016Location: GurugramWhat they do: ReordsKeeper has developed a blockchain-based Immutable Data Security Solution that can also act as a tool to generate a Proof-of-Existence, Proof-of-Authenticity and Proof-of-Integrity of a file, record, document, certificate or degree on blockchain.

Founder: Ish GoelFounding year: 2006Location: New DelhiWhat they do: Somish offers blockchain solutions service company with a focus on the BFSI, agriculture, aviation and governance sectors. The company has developed GovBlocks, a protocol for implementing decentralised governance on applications built using blockchain platforms like Ethereum.

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Disclosure: FactorDaily is owned by SourceCode Media, which counts Accel Partners, Blume Ventures and Vijay Shekhar Sharma among its investors. Accel Partners is an early investor in Flipkart. Vijay Shekhar Sharma is the founder of Paytm. None of FactorDaily’s investors have any influence on its reporting about India’s technology and startup ecosystem.